Provided more than $15 billion in financings across 220+ deals
Demonstrated ability to increase deal size to meet customer needs
CHICAGO -- (Business Wire)
GE Antares, a unit of GE Capital, announced today it closed more than
220 senior loan transactions, totaling $15.3 billion in financing,
“Helping build and strengthen the middle market is central to our
business,” said John Martin, president and CEO of GE Antares Capital.
“In 2012, we provided many middle market companies with the financial
capital they needed to grow their businesses and prepare for the future.
We expect this level of lending to continue into 2013.”
During 2012, GE Antares also closed $2.9 billion in commitments through
the Senior Secured Loan Program (SSLP), through which it co-invests with
Ares Capital Corporation in first lien senior secured loans. Since
January 2010, the SSLP has committed approximately $9.1 billion to
middle market borrowers.
“While 2012 saw the effects of events in Europe and the fiscal cliff,
investors were still active and there was a normal, steady stream of
activity in the market,” continued Martin. “We saw many of our long-term
customers remaining active and turning to GE to support their growth.”
In May, GE Antares led a $555 million senior facility for TricorBraun,
Inc., a portfolio company of CHS Capital. GE has been a lender to
TricorBraun, a leading full-service provider of outsourced rigid
packaging solutions in North America, for nearly 15 years. GE Antares
has been able to increase deal sizes over this time period to meet the
GE led a $405 million senior facility for Tank Holdings in July 2012 to
support the acquisition of the business by Leonard Green & Partners.
GE’s relationship with Tank goes back to the late 1980s. Tank Holdings
is North America’s leading manufacturer of proprietary rotational molded
polyethylene and steel storage tanks and containers used in
above-ground, below-ground and portable applications.
GE Antares also delivers more than financial resources. Through a unique
program called Access GE, customers can tap into GE’s unique insights,
tools and best practices to address needs that go beyond financing. The
Access GE team provides insights and resources from across GE, including
the industrial and manufacturing disciplines, that can help customers
tackle their biggest challenges.
“In 2012, we held 326 one-on-one engagements with 166 customers,” said
Martin. “We help these companies build stronger businesses by, for
example, implementing Lean initiatives, exploring new technologies
through connections with GE’s Global Research Center, or sharing best
practices regarding workforce planning.”
About GE Antares Capital
GE Antares is a unit of GE Capital. We are builders, not bankers. With
offices in Atlanta, Chicago, Los Angeles, New York, and San Francisco,
GE Antares is a leading middle market lender, offering a “one-stop”
source for GE’s lending and other services offered to middle market
private equity sponsors. For more information, visit the GE Antares
website at geantares.com.
About GE Capital
GE Capital offers consumers and businesses around the globe an array of
financial products and services. For more information, visit www.gecapital.com
or follow company news via Twitter (https://twitter.com/GECapital).
GE (NYSE: GE) works on things that matter. The best people and the best
technologies taking on the toughest challenges. Finding solutions in
energy, health and home, transportation and finance. Building, powering,
moving and curing the world. Not just imagining. Doing. GE works. For
more information, visit the company's website at www.ge.com.
GE Capital, Americas
Ned Reynolds, 203-229-5717
Source: GE Capital
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